Holding (Subsequent Measurement)
ASC 350-60-35-1 stipulates that crypto assets should be measured at fair value in financial statements. The gains and losses from changes in the fair value of crypto assets should be included in net income. Elven uses "lots" to record the acquisition and disposal of crypto assets, with each transaction generating a lot record. When disposing of crypto assets, the corresponding balance of crypto assets for the lot will be deducted according to the rules, and the latest balance after deduction will be updated in the lot record.
Total gains/losses from holding crypto assets
Each lot of crypto assets records the acquisition cost, disposal record, and remaining quantity of that lot of crypto assets. Combined with the market price, we can know the market value of crypto assets holdings. The difference between the holding market value and the remaining cost is the total profit and loss of holders crypto assets.
Gains/Losses during the accounting period.
The unrealized gains and losses of the current accounting period are equal to the total amount of unrealized gains and losses at the end of this period minus the total amount of unrealized gains and losses at the end of the previous period.
The crypto assets lots record the unrealized gains and losses of each lot of held crypto assets. By comparing with the data from the previous accounting period, the unrealized gains and losses of each lot of crypto assets in this accounting period can be obtained. Thus, obtaining the total unrealized gains and losses data for holding crypto assets during the accounting period.
By adding up the unrealized gains and losses of each lot separately, the unrealized gains and losses for this accounting period can be obtained.
Position cost
The cost of holding crypto assets refers to the sum of the remaining costs of each lot of crypto assets, grouped by currency and platform, which can meet the disclosure requirements for significant holdings of crypto assets in ASC 350-60-50-1.
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